Pre US Open, Daily Technical Analysis Tuesday, November 21, 2017

21 November 2017, 12:24
Dragan Drenjanin
0
9
EUR/USD Intraday: the downside prevails.

  • Pivot: 1.1770
  • Most Likely Scenario: short positions below 1.1770 with targets at 1.1685 & 1.1650 in extension.
  • Alternative scenario: above 1.1770 look for further upside with 1.1810 & 1.1850 as targets.
  • Comment: the RSI shows downside momentum.

GBP/USD Intraday: supported by a rising trend line.

  • Pivot: 1.3220
  • Most Likely Scenario: long positions above 1.3220 with targets at 1.3280 & 1.3300 in extension.
  • Alternative scenario: below 1.3220 look for further downside with 1.3200 & 1.3180 as targets.
  • Comment: the RSI lacks downward momentum.

USD/JPY Intraday: bullish bias above 112.20.

  • Pivot: 112.20
  • Most Likely Scenario: long positions above 112.20 with targets at 112.75 & 113.00 in extension.
  • Alternative scenario: below 112.20 look for further downside with 111.90 & 111.60 as targets.
  • Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

AUD/USD Intraday: rebound.

  • Pivot: 0.7530
  • Most Likely Scenario: long positions above 0.7530 with targets at 0.7590 & 0.7610 in extension.
  • Alternative scenario: below 0.7530 look for further downside with 0.7510 & 0.7490 as targets.
  • Comment: the RSI shows upside momentum.

Gold spot Intraday: key resistance at 1285.00.

  • Pivot: 1285.00
  • Most Likely Scenario: short positions below 1285.00 with targets at 1274.00 & 1271.50 in extension.
  • Alternative scenario: above 1285.00 look for further upside with 1290.00 & 1293.50 as targets.
  • Comment: the upward potential is likely to be limited by the resistance at 1285.00.

Crude Oil (WTI) (F8) Intraday: rebound expected.

  • Pivot: 56.25
  • Most Likely Scenario: long positions above 56.25 with targets at 56.65 & 56.95 in extension.
  • Alternative scenario: below 56.25 look for further downside with 55.95 & 55.75 as targets.
  • Comment: the RSI is mixed with a bullish bias.

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